John Gerzema

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Marketing guru John Gerzema looks at the long-term history of American savings, noting that the country saved a great deal of money during WWII primarily because there was very little focus on consumption anywhere in our culture. Following that anomalous period, within the past 20 years, Americans went from a 10% savings rate to a negative savings rate. He argues that the solution to the current economic crisis is in the hands of the consumer, but that mindful consumption is key (durable living, for example, instead of luxurious binging).